Budgeting Babe Alert: 40M Credit Cards Hacked
Posted on June 18, 2005 3 Comments
More headaches and paranoia for those of us concerned about credit and identity theft:
40M credit cards hacked
Breach at third party payment processor affects 22 million Visa cards and 14 million MasterCards.
http://money.cnn.com/2005/06/17/news/master_card/index.htm?cnn=yes
When will the madness stop? Listen to this part:
“We’re working with the FBI. It’s a criminal investigation,” Visa’s Bentz said, noting that CardSystems “was out of compliance” with Visa’s security standards when the breach occurred and that Visa would review whether it would continue to work with CardSystems when the case is resolved.”
Continue to keep a close eye on your credit report and card statements. Notify appropriate parties the moment you suspect something wrong.
CNN actually put up a new microsite with information on identity theft. It’s a nice resource with solid advice:
http://money.cnn.com/news/specials/security/
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3 Responses to “Budgeting Babe Alert: 40M Credit Cards Hacked”
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June 26th, 2005 @ 10:27 pm
Good post.
More identity theft… I posted a note on my credit repair forum when CitiGroup had 3.9 million of their records stolen.
This is going to put the credit reporting system into overload. Equifax, TransUnion, and Experian are going to be deluged with panicked requested by the people they’re reporting on.
If this gets any worse, people are going to blame every little problem that’s on their credit reports with all of the theft that’s going on.
When is this going to stop?!
CitiGroup’s 3.9 million records stolen
September 16th, 2009 @ 12:12 pm
Then the 40M consumers are exposed on being a victim of identity thief! How could something like this happen? could we blame CardSystem about this? or hackers are just getting smarter? IF so then, this is the sole battle where we, consumers do not stand a chance. Not even close!
But there is good news, Visa is trying a new card that is said to stop credit card fraud and identity thief. This new card has a new layer of security code that changes every time the holder make a purchase. Without it, the card will not be used by anyone and it is impossible to hack. So I guess we just have to wait for Visa to release the card in the market.
September 16th, 2009 @ 12:13 pm
Then the 40M consumers are exposed on being a victim of identity thief! How could something like this happen? could we blame CardSystem about this? or hackers are just getting smarter? IF so then, this is the sole battle where we, consumers do not stand a chance. Not even close!
But there is good news, Visa is trying a new card that is said to stop credit card fraud and identity thief. This new card has a new layer of security code that changes every time the holder make a purchase. Without it, the card will not be used by anyone and it is impossible to hack. So I guess we just have to wait for Visa to release the card in the market.